1. Field of the Invention
The present invention generally relates systems for electronic procurement.
2. Description of Related Art
Procurement systems are a collection of procedures and methods used in an organization for purchase of goods and services required by it. This includes activities such as ascertaining the specifications and quantities of items to be procured, authorization for procurement, identification and selection of sources of supply or vendors, finalization of terms of procurement with the vendors, placement of purchase orders, follow up for supply of items ordered, inspection and approval of goods and services received against orders placed, and approval of payment for the same.
Current electronic procurement systems are generated and maintained using a plurality of different developmental and analytical tools. As such, these tools are dedicated to only a subset of certain tasks. For example, some development tools are dedicated to website development, such as the website an end-user uses to procure goods and services. Other development tools are dedicated to backend management. These tools manage data generated when end-users interact with the website. Still other tools are dedicated to data mining and analytics.
Further, current procurement systems generally are limited in what they can perform. For example, some may be able to display electronic catalogs from suppliers, but not be able to build the supplier catalogs and configure them to interface with a specific purchasing system. In addition, there may be a need for ongoing maintenance of those supplier catalogs.